Bionex Share Discussion Threads

[colonel a] 04/6/2004 16:32

So what will Monday's interims bring ?

[russianlinesman] 12/5/2004 09:02

From 18 Feb

On Aim, Bionex Investments improved 0.2p to 2.85p after Ark Therapeutics announced plans to float on the main market. Bionex's 2.6% stake in Ark could be worth £3.5m if the compan is floated at the top end of the indicative price range. Bionex's market capitalisation was £4.1m last night.

I suspect therefore that their retained stake in Ark is max half a million shares.

Your assumption of a trading range is reasonable, but hasn't been the case pretty much since BNX listed except for a brief period of exuberance over Ark.

[colonel a] 11/5/2004 16:39

Some rough calcs.
BNX put in £1.5 mill to ARK, of a valuation of £47.5 mill (header).
3.2% say.

When ARK floated they raised £55 mill at 1.33 [41 million shares)

Thus the original investors got 85 million shares.
That would give BNX 2.7 mill

Selling in March they would have achieved at least £1.30 per share.
So they could have raised £2.2 million and still hold a million shares in ARK.

So if my sums are OK and nothing else drastic has happened to their portfolio.
They should have net assets of more than £5.5 million of which more than half is cash or non-volatile stocks.

If the results confirm these numbers I would have thought they would trade in the 2.5 - 3.? p range.
Well at least I hope they will.

[one for the money] 10/5/2004 09:54

when everything else is red.....I see some blue

[bakedbean] 10/5/2004 07:56

this could be on the turn now!

[rivaldo] 07/5/2004 18:40

Many thx MJC - I completely missed that!

[mjcrockett] 07/5/2004 18:39

Rivaldo,

The following is from the news item on 30th April. As you will see they have pocketed over £2m from SOME OF THE INVESTMENT in Ark - i.e. about BNX's market cap. Add in the other cash and investments and it does look somewhat cheap.

MJ



In March 2004 the Company realised some of its investment in Ark Therapeutics
plc, generating in excess of #2 million in cash for the Company. The directors
of the Company continue to seek investment opportunities but consider that there
is a decline in the number of appropriate investments in quoted or unquoted
companies within the life sciences sector. Therefore, the directors will seek
to optimise the Company's returns by investing in quoted securities in sectors
other than the life sciences sector. It is the intention of the directors that
the amount invested in investments in sectors other than the life sciences
sector will not exceed #1,000,000.

[rivaldo] 07/5/2004 18:30

Colenel, may I ask how you know BNX sold some Ark - it's not been mentioned in any RNS's? If so, any idea how many? As noted earlier in the thread I sold out nicely, but remain interested...

Thanks

[colonel a] 07/5/2004 17:30

Me (again) for one.

They sold "some" of their ark holding in March - so its impact will be felt directly in the results next month.
[There may have been a tax benefit to realising some profits within their 03/04 financial year]

Is there a competition between small investment companies to see who can provide the least information ?

[godolphin] 07/5/2004 09:45

It would appear people are seeing these as cheap at last.

[bakedbean] 07/5/2004 08:48

well ive just dipped a toe in.

[godolphin] 07/5/2004 08:08

I would normally expect a company to be worth a bit more than the cash they've got! Seems strange the way this is going.

[blackbear] 07/5/2004 07:38

What's going on..

[godolphin] 05/5/2004 16:27

Anyone know how much Ark bnx have? They complained about finding life sciences stocks and then sold most of their holding in what looks like a good prospect. One assumes they want the money for something interesting.

[denjon] 05/5/2004 15:22

I see Ark has released an encouraging press release today:

www.arktherapeutics.com

[bcf200] 02/5/2004 09:28

Spread not as bad as looks. I bought at 1.57 when showing 1.70

[russianlinesman] 02/5/2004 09:05

problem with Bionex is always the spread. Look at it, it's about 40%.

[bcf200] 30/4/2004 13:54

Have just sold some Ark for £2million which plus cash of over £1mill at 30.9.03. plus remainder of assets is well above market cap. I would say double value would not be unreasonable IMHO.

[blackbear] 14/4/2004 20:02

I got out last time at 2.98 jammy i know , soo tempted to get back in here

[optimist23] 14/4/2004 10:00

PTC to rise three fold very soon. A bargain at 3.25-3.50 pence.

[godolphin] 14/4/2004 09:15

% changes don't mean much with low price stocks like this. Least that's what I keep telling myself!

[philmiboots] 14/4/2004 08:45

WTF - down 24%!

[bittorrent] 31/3/2004 22:41

Abbey,it just seems to be bouncing from recent lows and someone(presumably a fund manager not a private investor) thought they were worth a £50k investment.
No spare cash at the mo,otherwise I might have a punt.

[bittorrent] 31/3/2004 18:31

Somebody bought £50,000 worth today-last two trades for 1.2 million shares each.
I expect another rise tomorrow.